Stocking up on one FSA-eligible product
“I have a lot of money left in my FSA, and the plan year is almost over. Can I stock up on products?”
This would make sense, right? Unfortunately, it doesn’t work this way.
While there is no official guidance from the IRS on stocking up, it’s generally not advised that you buy a large amount of one product with your Flexible Spending Account. Buying any more than three of the same item could be considered “stockpiling.” A product you’re purchasing should be for you, your spouse or a qualified dependent. Your FSA Administrator can decide how to impose certain limits of the amount of a product you can buy.
It’s best to contact your FSA administrator if you’re ever confused about how much of one product you can get. FSA Administrators can tell you what is considered eligible under your FSA plan, while your Summary Plan Description (typically provided to you at open enrollment)provides written details of your plan.